“Mining companies around the world should view this as a salutary
reminder of the dangers of engaging in high-level bribery.

“Global Witness investigated BSGR, which was behind one of Africa’s biggest mining scandals. The mining
company struck a corrupt bargain with the wife of Guinea’s late military
dictator, promising her millions of dollars in bribes for her help to win a
world-class iron ore concession. After getting the concession for nothing it
resold 51% for $2.5 billion – equivalent to twice Guinea’s budget at the time.

“Although the company denies any wrongdoing and has argued that
contracts at the heart of the inquiry are fake, in 2014 a new Guinean government
cancelled BSGR’s licences after an official inquiry found they were corruptly
acquired. The dispute has sparked numerous lawsuits, some of which are still
ongoing.”